Gas Prices Up Though Oil Remains In Basement

Gas prices edging closer to the $2 mark has drivers scratching their heads.

José Guzmán

Many North Texas drivers have done all they can to cut their costs.

"We downsized a year ago from one of the sport utility vehicles and got into a smaller car," said Dwayne Pipkins. 

Still, at stations across the metroplex, drivers continue to see their bills going up.

"They are high," said Tahir Ali, "about 45 cents high."

The price of a gallon of gas is edging closer to the $2 mark, even though the cost of oil remains low. 

"The oil refineries that produce the oil and make it into gasoline, they've decided that because the economy is in a recession, less people are driving, they're making less gasoline," said Dan Ronan, with AAA. 

It seems like a simple case of supply and demand, but skeptical drivers said it's just a way for gas companies to make more money.

"I think they're wanting to get the top dollar out of it, and they're going to figure out how to do it," said Cheryl Gainer. 

Still, at prices under $2, there's not much to complain about. That may change as companies switch to a summer blend of gasoline in the next couple of months. It is more expensive to make, so analysts expect the prices will probably go up again.

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